What You Need to Know about Toronto Antique Auctions

posted on September 25, 2015 by Don Reinhart | No Comments

Toronto antique auctions are one of the best places to find collectibles, vintage furnishings, and memorabilia. It’s sort of a one place for all. However, it is also greatly attended by professionals (such as dealers and collectors) who have years of experience in recognizing the value of antiques. Here are some things about antique auctions that can help you prepare ahead of time!

  • There may be a buyer’s premium cost for the auction: Buyer’s premium cost is where there’s an additional percentage charge on top of the winning bid for the auction. This cost will cover administrative expenses and will go directly to the auction house. Ask ahead before attending the auction, if there will be a buyer’s premium. This way, you can factor that into your budget.
  • Study the items ahead of time: Some antique auctions may have a list of available items you can bid on that they will provide publicly, a few days before the auction. They may also have images and descriptions on hand, or a catalogue you can ask about. Study them that so that you go to the auction prepared with what antique you would like, the ideal budget for it, and a list of specific signs to look for to identify if the antique is a good purchase.
  • Ask questions and inspect the items: Arrive early before the auction so that you can formally inspect the item and determine the condition it is in. When possible, you can also ask the auctioneer about the history of the item and its condition. It helps to get an overall understanding of the item before you decide to bid for it.

Do you have questions about antique auctions? We’re happy to help! Give us a call at (905) 846-1071.